NASCAR reduces car fields, confirms new charter system

A reduction of the weekly fields to 40 cars from 43 and a guaranteed starting spot for all races this season are just some of the many changes NASCAR is implementing with a new charter system designed to give owners a more secure financial position in the sport.

NASCAR announced Tuesday that 36 cars - called charters, or car franchises - will be guaranteed a spot in every race regardless of qualifying times.

The four non-chartered race teams will compete for the final entires during qualifying with the rest of the 36 charters in starting line-up each race weekend.

“Today represents a landmark change to the business model of team ownership in NASCAR,” NASCAR chief executive Brian France said.

“The charter agreements provide nine years of stability for NASCAR and the teams to focus on growth initiatives together with our track partners, auto manufacturers, drivers and sponsors.

"The charters also are transferable, which will aid in the development of long-term enterprise value for charter members.”

Charters can be sold if an owner wants to leave the sport, or cut down the number of full-time cars a team fields.

The charter system also establishes a Team Owner Council that will have formal input into decisions.